Treasurer Cahill, MSBA Help Break Ground for Minnechaug Regional High School

September 14, 2010

BOSTON – State Treasurer Tim Cahill, Chairman of the Board of Directors of the Massachusetts School Building Authority (“MSBA”), and MSBA Executive Director Katherine Craven, were in Wilbraham today for a groundbreaking ceremony for the new 231,467 square foot Minnechaug Regional High School.

The MSBA is funding 61% of the project. Minnechaug is the MSBA’s second Model School. Model Schools effectively adapt and re-use the design of successful, recently constructed high schools; simplifying the design process, reducing the amount of time projects are in the design phase and lowering design fees.

Using elements of a previously designed Model School allows projects to begin construction faster and reduces construction costs for the project. At least a year of design work can be saved by using a Model School.

“I am pleased to be here to participate in this groundbreaking. We found the most economical and educationally appropriate solution to the problems at Minnechaug Regional High School. This project will not
only result in a top-notch learning facility for the children of the district but its construction will also create well-paying jobs,” said State Treasurer Tim Cahill, Chairman of the MSBA.

“This project will mean a better learning and teaching environment for the students and teachers of Hampden and Wilbraham and is another example of the commitment, collaboration and the partnership the MSBA has with districts,” said Katherine Craven, MSBA Executive Director.

The MSBA is collaborating with municipalities to equitably invest up to $2.5 billion in schools across the Commonwealth by finding the right-sized, most fiscally responsible and educationally appropriate solutions to create safe and sound learning environments. The MSBA is committed to protecting the taxpayer’s dollar by improving the school building grant process and avoiding the mistakes of the past in the funding and construction of school facilities.

The MSBA has reformed the Commonwealth’s formerly rampant and unsustainable program, which had accumulated $11 billion in debt. In 2007, as a result of programmatic reforms and sound fiscal management, the MSBA was able to reopen a sustainable, reformed grant program. In its six year history, the MSBA has made more than $7 billion in reimbursements to cities, towns and regional school districts for school construction projects. These timely payments have saved municipalities over $2.9 billion in avoided local interest costs and have provided much needed cash flow to communities in these difficult economic times.